Imposes a surtax on personal income tax liability.

Summary

Digest: The Act imposes new income taxes and takes revenues that would go the Rainy Day Fund, to help the state plan for disasters. (Flesch Readability Score: 66.1). Imposes a surtax on personal income tax liability. Imposes an Oregon personal alternative minimum tax. Establishes the Resiliency Requirements Fund. Establishes the Shaky Day Fund. Directs the proceeds of the income tax surtax and the alternative minimum tax to be used for funding resiliency. Modifies the formula for transfer of a percentage of the General Fund ending balance to include a transfer to the Shaky Day Fund, in addition to the transfer to the Rainy Day Fund. First applies to tax years beginning on or after January 1, 2026, and to biennia beginning on or after July 1, 2025. Takes effect on the 91st day following adjournment sine die.